401k Plan Audits
If you are like most plan sponsors, your employee benefit plan was established to be just that, an employee benefit. But most plan sponsors find that this employee benefit comes with a significant cost of time and money in order to stay in compliance.

Compounding the problem, the ever changing regulations and economic environment surrounding employee benefit plan compliance becomes increasingly complex each year. That is why Hedman Partners has developed an Employee Benefit Plan team with the specialized expertise that plan sponsors need. Each year we continue to grow our benefit plans practice by being a resource for our clients and focusing on improving our efficient, cost effective audits for employee benefit plans.

Most employee benefit plan sponsors want to fulfill their fiduciary responsibilities by engaging qualified service providers to assist with their Plan's administration and compliance. Our clients recognize the true value of working with knowledgeable professionals who perform all procedures required under professional standards to ensure their compliance, while minimizing the cost and disruption of their Plan's audit. Hedman Partners is a member of the AICPA Employee Benefit Plan Audit Quality Center to ensure we remain abreast of the latest compliance requirements, best practices, and quality standards in employee benefit plan auditing so that we can continually improve our audit processes and pass the applicable knowledge on to our clients.

OUR QUALITY COMMITMENT
At Hedman Partners, we work diligently to maintain high standards of professional service, including a strong system of quality control that emphasizes independence and objectivity. We invest in our people so that we can provide the very best talent and skills to meet plan sponsors' needs. We attend the annual AICPA Employee Benefit Plan Conference and regularly attend industry-specific trainings to stay informed of current issues facing this highly regulated field. In addition, we maintain the rigorous standards necessary to be a member of the American Institute of Certified Public Accountants Employee Benefit Plan Audit Quality Center, a membership center for eligible CPA firms that perform employee benefit plan audits.

STAFF EXPERTISE
As with all of our engagements, we assign individuals at the appropriate levels of experience, and we build long-term engagement teams with staff consistency and continuity at their foundation. We have built long-standing relationships with other industry service providers such as ERISA attorneys, trustees, custodians and third party administrators to better serve our clients with all of their needs.

Our Employee Benefit Plan Audit Practice Manager, Janet Thomerson has over twelve years of public accounting and private industry experience including extensive experience in employee benefit plan audits from planning phase through financial statement preparation.

Hedman Partners has performed audits of all types of defined contribution plans for more than twenty years. We offer competitive rates and a commitment to efficiency. With our valuable insights, specialized knowledge, and a commitment to helping our clients meet their compliance requirements, Hedman Partners is the preferred choice for your employee benefit plan audit needs.

For more information about audit quality, visit the Employee Benefit Plan Audit Quality Center.

EMPLOYEE BENEFIT PLAN RESOURCES
The following resources are provided by Hedman Partners as a result of our membership in the AICPA:
Employee Benefit Plans—Financial Statement Audits, is intended to assist plan sponsors, plan administrators, and trustees to better understand the independent audit of the financial statements of an employee benefit plan. Effective Monitoring of Outsourced Plan Recordkeeping and Reporting Functions, was designed to assist plan sponsors understand their responsibilities for monitoring service organizations they hire to perform recordkeeping and reporting functions for their plans. Understanding Auditor Communications, is intended to assist plan sponsors, plan administrators, trustees, audit committees, employee benefit plan committees, administrative committees, and investment committees better understand the communications they may receive from their plan auditors. Valuing and Reporting Plan Investments, is aimed to assist plan sponsors in understanding their responsibilities for valuing and reporting their plan investments. The Importance of Internal Controls in Financial Reporting and Safeguarding Plan Assets, is designed to assist plan administrators in understanding their responsibilities for establishing, maintaining, and monitoring internal controls at their plans.
Limited Scope Audit of EBPs

Limited Scope Audit of EBPs

2017 EBP Hot Topics

2017 EBP Hot Topics

401k Plan Checklist

401k Plan Checklist

2017-2018 Compliance Calendar

2017-2018 Compliance Calendar

FAQ of Hedman Partners Employee Benefit Plan Audit Practice

FAQ of Hedman Partners Employee Benefit Plan Audit Practice

The Importance of Hiring a Quality Auditor

The Importance of Hiring a Quality Auditor

The Importance of Internal Control in Finacial Reporting and Safeguarding Plan Assets

The Importance of Internal Control in Finacial Reporting and Safeguarding Plan Assets

Substantiation Guidelines for Safe-Harbor Hardship Distributions from Section 401(k) Plans

Substantiation Guidelines for Safe-Harbor Hardship Distributions from Section 401(k) Plans

Employee Benefit Plans Financial Statement Audits

Employee Benefit Plans Financial Statement Audits

Effective Monitoring of Outsourced Plan Recordkeeping and Reporting Functions

Effective Monitoring of Outsourced Plan Recordkeeping and Reporting Functions

Understanding Auditor Communications

Understanding Auditor Communications

Valuing and Reporting Plan Investments

Valuing and Reporting Plan Investments


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